Are you a first-time homebuyer in Hawaii looking for an affordable housing option? You're in luck! There are several programs available to help you find the perfect home. The subsidiary of the Hawaii Homeowners Center, HHOC Mortgage, offers the DPAL program, which requires only a 5% down payment. The Hawaii Housing Finance and Development Corporation (HHFDC) also provides an affordable housing program with eligibility requirements. Additionally, the Department of Housing and Urban Development (HUD) has programs specific to cities and counties in Hawaii.
Finally, the Hawaii Legal Aid Society offers comprehensive housing counseling services. The DPAL program from HHOC Mortgage is exclusively available to first-time homebuyers. It offers a financing option that only requires a 5% down payment. This is a great option for those who don't have a large amount of money saved up for a down payment. The HHFDC affordable housing program is another great option for first-time homebuyers in Hawaii.
The new development of Ililani, a 328-unit condominium in Kaka'ako, will have 163 units at market price and 165 units that will be offered as affordable housing units under HHFDC guidelines to homeowners who meet the eligibility and income requirements. The Department of Housing and Urban Development (HUD) provides a list of programs specific to cities and counties in Hawaii. These programs are tailored to meet the needs of each individual city or county, so it's important to research what's available in your area. Finally, the Hawaii Legal Aid Society offers comprehensive housing counseling services. This class is a great way to educate yourself and learn about the various affordable housing programs to better help your buyers and sellers.
To participate in this program, a participant with HCV must meet specific income and employment requirements (older and disabled people do not have to meet employment requirements), be a first-time homeowner, and successfully complete a pre-26% housing counseling program required by the local Public Housing Authority. If you're a first-time homebuyer in Hawaii looking for an affordable housing option, there are several programs available to help you find the perfect home. From the DPAL program from HHOC Mortgage to the HHFDC affordable housing program to HUD's city-specific programs, there are plenty of options for you to explore. Additionally, the Hawaii Legal Aid Society offers comprehensive housing counseling services that can help you understand all of your options.